Wife's uncle sold his lake home on a reverse mortgage because her aunt has had a lot of medical expenses. He has to maintain the property at a certain level or they can take the property at any time. When he first did it he thought it was a good idea but is now regretting it.
In your case you would need to find out who she sold it to then find out about buying the mortgage. Be assured that they will want to make a profit on it and anything they owe her will now be yours to pay to her if they are willing to sell now. Most likely they will wait until they take position of the property before they will want to sell......at a profit.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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